European Banking Authority
(BRUSSELS) – The EU Commission published Monday its assessment of the 27 offers received from Member States to host the European Banking Authority and the European Medicines Agency – currently located in the United Kingdom.
The Commission says all offers were assessed objectively, on the basis of criteria set out by Commission president Jean-Claude Juncker and Council president Donald Tusk, endorsed by the Heads of State or Government of the EU27 at the European Council (Article 50 format) on 22 June.
It says the assessment is fully based on information sent by the Member States.
It adds that it respects the Member States’ decision that the criteria should be unweighted and it does not provide a ranking or shortlist of any kind.
The Council will have a political discussion this month at the General Affairs Council (Article 50 format), on the basis of this assessment.
A final decision is then expected to be taken at the November General Affairs Council, with a view to allowing for for a smooth and timely relocation of the two agencies.
While the assessment is made by the Commission, the decision to relocate the EMA and the EBA both of which are currently situated in London is for the governments of the 27 Member States to take.
The relocation is a direct consequence of the United Kingdom’s decision to leave the European Union, as notified to the European Council on 29 March 2017.
It does not form part of the Brexit negotiations, but is to be discussed exclusively between the 27 EU Member States.
The Commission believes a quick decision on the transfer is necessary. The EMA and the EBA are two key regulatory agencies for the EU’s Single Market, and are essential for the authorisation of medicines and bank regulation. It says they need to continue to function smoothly and without disruption beyond March 2019.
